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LUMA	presents	our	annual	State	of	Digital	Marketing,	which	covers	our	views	on	the	
market,	industry	trends,	and	the	futur...
Meet the Senior LUMA Team
Terence Kawaja Brian Andersen Mark Greenbaum Dick Filippini Conor McKenna Gayle Meyers
Founder &...
The	period	since	the	presidential	election	has	been	solid	for	public	markets	overall,	with	
the	NASDAQ	up	~30%	over	the	la...
Look	– an	IPO	market!	Strong	equity	market	finally	welcomed	a	number	of	new	entrants	
last	year,	including…
Yesterday’s	debut	of	email	marketer	SendGrid,	which	priced	above	the	range,	to	a	6x	
trailing	multiple	before	rising	anoth...
Which	has	us	wondering	who	will	be	next	with	a	number	of	scaled	players	queuing	up	in	
the	pipeline.
Along	with	new	entrants,	other	activity	has	really	reshaped	the	public	markets	for	Ad	
Tech	and	MarTech.	Let’s	face	it,	pu...
If	we	look	back	5	years,	a	dollar	invested	in	the	NASDAQ	would	have	doubled	while	a	
dollar	invested	in	the	Ad	Tech	player...
This	first	misstep	by	Millennial	Media	demonstrated	that	legacy	media	I/O	based	
models	lacked	the	predictability	public	m...
2017	saw	the	Great	Ad	Tech	Cleanup,	with	all	the	remaining	I/O	based	businesses	
having	been	acquired,	leaving	a	public	co...
So	that’s	a	lot	about	the	public	markets,	but	let’s	get	real,	M&A	remains	the	primary	
source	of	liquidity	and	remains	ver...
Importantly,	looking	at	scaled	exits	over	$100	million,	we	saw	45	deals.
While	2017	lacked	some	of	the	+$1	billion	deals	of	the	prior	year,	we	saw	very	solid	exits	
across	Ad	Tech	and	MarTech	cat...
A	lot	of	what	is	happening	in	MarTech	is	being	driven	by	what’s	happening	in	the	
advertising	ecosystem.	Great	news:	digit...
However,	there	is	concern	that	Google	and	Facebook	are	taking	a	big	and	dominant	
share	of	the	growth.	The	Duopoly	has	ove...
If	this	trend	continues,	it	will	make	our	life	making	LUMAscapes a	lot	easier	since	it	will	
just	be	down	to	a	couple	of	c...
Speaking	of	Amazon,	this	company	has	produced	revenues	with	an	incredible	76%	
compound	growth	over	the	past	twenty	plus	y...
Amazon	is	an	absolute	beast,	and	the	market	is	recognizing	this.	The	stock	has	been	on	
a	tear	while	the	rest	of	retail	is...
One	of	Amazon’s	main	revenue	drivers	is	the	subscription	program	“Prime”,	which	now	
has	over	80	million	subscribers.	Not	...
Even	more	incredible	is	that	they	have	managed	to	circumvent	Google.	With	its	
ubiquitous	search	bar,	Google	used	to	own	t...
Amazon	is	well	on	their	way	to	being	a	major	player.	In	a	world	of	consumer	
touchpoints,	Amazon	has	an	amazing	array	of	a...
Back	to	Facebook	and	Google,	who	own	almost	two-thirds	of	the	share	of	digital	ad	
spend,	leaving	a	paltry	37%	for	everybo...
Combined,	digital	and	TV	is	a	$155	billion	market,	where	companies	outside	of	the	
Duopoly	control	over	two-thirds	of	the	...
No	doubt	those	opportunities	are	one	of	the	reasons	why	this	sector	has	attracted	
acquisition	investment	from	a	wide	vari...
At	the	beginning	of	2017,	reports	came	out	that	proclaimed	the	sector	was	finished,	
spurred	from	the	substantial	decline	...
Private	equity	is	much	later	stage	focused,	and	we	believe	is	evidence	that	we	are	
seeing	the	beginning	phases	of	the	mat...
One	of	the	challenges	is	that	the	Ad	Tech	and	MarTech	ecosystems	are	massively	
fragmented;	5,000	companies	across	18	LUMA...
To	think	about	the	market	opportunity,	let’s	look	at	fractional	math.	We	just	talked	
about	a	further	migration	towards	di...
The	need	for	differentiation	is	even	further	highlighted	by	these	changes,	provided	we	
don’t	blow	it.	By	this,	I	mean	the...
Mark	Pritchard,	CMO	of	Proctor	&	Gamble,	has	been	on	a	rampage.	He’s	been	on	a	tour	
for	the	last	year	talking	about	the	c...
This	chart	illustrates	the	economic	impact	of	some	of	these	issues.	The	blue	bar	
represents	all	media	impressions.	Ads	ar...
Proctor	&	Gamble	announced	they	pulled	back	$100	million	and	reported	that	it	had	no	
effect	on	growth.	This	is	extremely	...
This	behooves	people	to	limit	vulnerability	to	some	these	exogenous	forces,	whether	it’s	
the	supply	chain	and	fraud	or	ch...
It’s	the	last	issue,	Europe’s	General	Data	Protection	Regulation	(GDPR),	that	was	in	fact	
a	deal	rationale	behind	the	lat...
It	feels	like	we’re	in	a	scenario	where	MarTech	is	needed	to	heal	Ad	Tech.	The	problems	
of	Ad	Tech,	whether	it’s	fraud,	v...
We	believe	that	identity	is	the	core	of	marketing.	This	used	to	be	a	stack	where	you	
would	start	your	planning,	execute	c...
We	like	to	remind	ourselves	that	marketers	are	not	looking	for	technology	for	
technology’s	sake.	They	are	instead	focused...
From	the	large	marketing	clouds	to	the	start-ups,	technology	vendors	aim	to	assist	
enterprises	to	drive	more	revenues	by	...
In	Ad	Tech,	obviously	the	right	message	is	not	getting	through	if	it	is	not	viewable,	or	is	
“viewed”	by	a	bot.	We	are	see...
Since	there	are	different	dynamics	and	vendors	in	B2B	vs.	B2C	Marketing,	we	are	going	
to	address	them	separately.
In	past	presentations	we	have	discussed	the	critical	three	capabilities:	data,	identity	and	
orchestration,	which	marketer...
The	foundation	should	be	a	common	data	layer.
However,	MarTech has	long	been	a	“best	of	breed”	environment.	Therefore,	marketers	
utilize	many	channel-centric	systems	–...
This	is	a	major	issue	for	marketers.	In	this	eMarketer survey,	there	is	broad	agreement	
that	a	single	view	of	the	custome...
However,	only	5%	of	respondents	claim	to	have	a	single	platform	that	manages	data	
across	multiple	channels.
So	that	raises	a	question:	If	marketers	need	a	single	view	of	their	customers,	what	
makes	up	the	customer	record?	It	is	i...
If	there	is	one	system	that	provides	the	single	view	of	the	customer	/	manages	the	
customer	record,	who	owns	this?
In	B2B	marketing,	it	is	clear.	The	customer	record	is	managed	by	customer	relationship	
management	(CRM)	systems,	such	as	...
But	we	feel	that	the	logical	B2C	system	for	managing	the	customer	record	is	emerging,	
which	is	the	“customer	data	platfor...
The	“CDP”	category	has	emerged	in	the	past	year	to	being	a	recognized	category.	We	
therefore	have	revised	the	Marketing	T...
In	general,	the	CDP	has	three	main	functions.	First,	it	collects,	normalizes	and	unifies	
data	from	a	variety	of	systems	s...
Therefore,	a	full-featured	CDP	will	enable	both	the	“data”	layer	and	“orchestration”	
capabilities	that	we	feel	are	critic...
We	view	the	CDP	category	as	having	two	main	segments:	commerce-focused	and	the	
other	applied	across	verticals.	Those	on	t...
A	final	comment	on	the	“orchestration”	layer.	The	large	marketing	clouds	currently	do	
not	have	a	system	that	can	be	class...
However,	it	is	interesting	to	note	that	one	of	main	marketing	clouds	– Oracle	– recently	
panned	their	competitors,	saying...
Moving	to	commentary	on	B2B	marketing…
At	the	last	Digital	Marketing	Summit,	we	summarized	the	state	of	B2B	marketing	with	
this	slide,	where	we	saw	there	being	...
The	one	area	that	really	unifies	these	trends	is	the	adoption	of	account-based	
marketing.	The	vendors	in	B2B	marketing	ha...
We	are	often	asked	whether	we	feel	feel	the	Marketing	Clouds	will	“win,”	or	if	the	
market	will	stay	focused	on	“best-of-b...
To	start	with	the	marketing	clouds,	they	obviously	were	created	by	stitching	together	
multiple	acquisitions.
There	are	many	detractors	of	these	efforts,	with	questions	of	whether	marketing	clouds	
should	exist,	or	if	they	are	servi...
“Nonintegrated	tech	platforms”	is	the	leading	obstacle	to	integrating	marketing	
activities,	per	eMarketer.
And	it	is	not	surprising	that	marketers	still	largely	operate	siloed,	non-integrated,	best-
of-breed	systems.	Neeraj Agraw...
However,	there	is	a	case	for	the	marketing	clouds.	When	I	worked	at	enterprise	
software	companies,	we	consistently	heard	...
Earlier	this	year,	Cisco	published	its	“Digital	Engagement”	stack	that	shows	all	the	
vendors	they	use	for	their	marketing...
If	you	break	down	their	stack,	they	have	essentially	used:	1)	their	own	technologies,	2)	
Adobe	for	their	“experience”	app...
So	which	wins?	In	the	ultimate	cop-out,	we	believe	both.	As	long	as	the	marketing	
clouds	are	able	to	combine	complementar...
The	mission	of	the	LUMA	Corporate	Partners	program	is	to	provide	education,	insights	and	market	
development	to	all	consti...
LUMA's State of Digital Marketing at DMS West 17 (with Commentary)
LUMA's State of Digital Marketing at DMS West 17 (with Commentary)
LUMA's State of Digital Marketing at DMS West 17 (with Commentary)
LUMA's State of Digital Marketing at DMS West 17 (with Commentary)
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LUMA's State of Digital Marketing at DMS West 17 (with Commentary)

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LUMA presents the State of Digital Marketing at DMS West 17

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LUMA's State of Digital Marketing at DMS West 17 (with Commentary)

  1. 1. LUMA presents our annual State of Digital Marketing, which covers our views on the market, industry trends, and the future of the ecosystem with a specific focus on digital marketing. We hope you enjoy it.
  2. 2. Meet the Senior LUMA Team Terence Kawaja Brian Andersen Mark Greenbaum Dick Filippini Conor McKenna Gayle Meyers Founder & CEO Partner Partner Partner Vice President CMO Terry leads strategy, banking and content for LUMA. He’s also head comedy writer and performer. Brian is LUMA’s marketing technology guru. He excels at coaching both little league and big clients. Mark runs M&A strategy and execution for LUMA. He’s never met a term sheet he couldn’t improve. Dick leads LUMA’s mobile and gaming banking coverage. You can find him holding court every February in Barcelona. Conor ties it all together, managing LUMA's junior teams. He also wrangles the senior team together. Gayle runs LUMA’s marketing, events, and partnerships. Think of her as top of the LUMA funnel.
  3. 3. The period since the presidential election has been solid for public markets overall, with the NASDAQ up ~30% over the last twelve months. MarTech continued to be a strong category behind Shopify’s continued run, which is up over 150% to nearly $10 billion market cap. Ad Tech companies had also been trading above market growth until recent Q3 earnings missteps hit across almost all the players.
  4. 4. Look – an IPO market! Strong equity market finally welcomed a number of new entrants last year, including…
  5. 5. Yesterday’s debut of email marketer SendGrid, which priced above the range, to a 6x trailing multiple before rising another 12% in yesterday’s trading.
  6. 6. Which has us wondering who will be next with a number of scaled players queuing up in the pipeline.
  7. 7. Along with new entrants, other activity has really reshaped the public markets for Ad Tech and MarTech. Let’s face it, public markets have been fairly unfriendly, especially for Ad Tech.
  8. 8. If we look back 5 years, a dollar invested in the NASDAQ would have doubled while a dollar invested in the Ad Tech players would have lost almost two-thirds its value. This started when Millennial Media went public on the premise of mobile and then promptly missed its first quarter.
  9. 9. This first misstep by Millennial Media demonstrated that legacy media I/O based models lacked the predictability public markets value and thus tainted the followers even as business models evolved. So much so that in 2014 we published “Color by Numbers” to highlight the differences and valuation implications among business models ranging from network, to programmatic, ultimately to true SaaS, which public markets appeared to struggle to differentiate.
  10. 10. 2017 saw the Great Ad Tech Cleanup, with all the remaining I/O based businesses having been acquired, leaving a public company cohort with platform business models providing a more attractive comp universe.
  11. 11. So that’s a lot about the public markets, but let’s get real, M&A remains the primary source of liquidity and remains very active.
  12. 12. Importantly, looking at scaled exits over $100 million, we saw 45 deals.
  13. 13. While 2017 lacked some of the +$1 billion deals of the prior year, we saw very solid exits across Ad Tech and MarTech categories.
  14. 14. A lot of what is happening in MarTech is being driven by what’s happening in the advertising ecosystem. Great news: digital media continues its growth. Consumers’ time continues to shift towards digital consumption channels and ad spend continues to grow.
  15. 15. However, there is concern that Google and Facebook are taking a big and dominant share of the growth. The Duopoly has over 60% market share of all ad spend in digital and almost all of the growth.
  16. 16. If this trend continues, it will make our life making LUMAscapes a lot easier since it will just be down to a couple of companies, or maybe three with new entrant, Amazon.
  17. 17. Speaking of Amazon, this company has produced revenues with an incredible 76% compound growth over the past twenty plus years. Compound growth like this for 20 years is hard to do!
  18. 18. Amazon is an absolute beast, and the market is recognizing this. The stock has been on a tear while the rest of retail is being eviscerated in its path.
  19. 19. One of Amazon’s main revenue drivers is the subscription program “Prime”, which now has over 80 million subscribers. Not only does Prime provide Amazon a predictable revenue stream, but it also increases the average amount an Amazon customer spends and creates “stickiness”.
  20. 20. Even more incredible is that they have managed to circumvent Google. With its ubiquitous search bar, Google used to own the the top part of the funnel, but Amazon has quietly become the top choice for searching products to buy. According to a study by Bloomreach, over half of shoppers start their search on Amazon rather than Google.
  21. 21. Amazon is well on their way to being a major player. In a world of consumer touchpoints, Amazon has an amazing array of abilities to interact with the consumer, whether it’s through the e-commerce app, video or one of the fastest growing and potentially most disruptive new forms of media, voice.
  22. 22. Back to Facebook and Google, who own almost two-thirds of the share of digital ad spend, leaving a paltry 37% for everybody else. However, 37% of a $83 billion market is $31 billion, which is still pretty big and it is not static. There is a constant shift between players in that slice of the pie, which gives new players opportunities in a very dynamic marketplace. More importantly is the opportunity coming from the addressability of TV, an enormous market where the Duopoly have substantially less share.
  23. 23. Combined, digital and TV is a $155 billion market, where companies outside of the Duopoly control over two-thirds of the market.
  24. 24. No doubt those opportunities are one of the reasons why this sector has attracted acquisition investment from a wide variety of deep-pocketed strategics from a variety of different sectors.
  25. 25. At the beginning of 2017, reports came out that proclaimed the sector was finished, spurred from the substantial decline in venture capital investments going into the sector. What these reports neglected to point out was the fact that while venture capital was going down, private equity was going up in a huge way with over $12 billion invested in Ad Tech and MarTech in the last 24 months.
  26. 26. Private equity is much later stage focused, and we believe is evidence that we are seeing the beginning phases of the maturation in this industry. This is incredibly natural and happens in every industry. Ad Tech is logically going through a maturation phase where we will see a rationalization and consolidation of companies.
  27. 27. One of the challenges is that the Ad Tech and MarTech ecosystems are massively fragmented; 5,000 companies across 18 LUMAscapes. We did a four-year lookback and for the first time we noted that there are more acquisitions than there are new companies appearing on the LUMAscapes. Net consolidation is here!
  28. 28. To think about the market opportunity, let’s look at fractional math. We just talked about a further migration towards digital and this big opportunity called TV, which represents the numerator getting larger. At the same time, with the maturation phase and the consolidation of players, the denominator is getting smaller. So what happens when the numerator gets bigger and denominator gets smaller? Massive wealth creation for a few companies.
  29. 29. The need for differentiation is even further highlighted by these changes, provided we don’t blow it. By this, I mean there is an epidemic of challenges to the advertising supply chain. They’ve been there for a while but now they’re garnering consequences.
  30. 30. Mark Pritchard, CMO of Proctor & Gamble, has been on a rampage. He’s been on a tour for the last year talking about the challenges in the digital advertising ecosystem and it all really boils down to one thing: trust. This is a real issue and it has economic consequences.
  31. 31. This chart illustrates the economic impact of some of these issues. The blue bar represents all media impressions. Ads are served to most of it and blocked for others. You lose some of the ads served to fraud, others because they are not viewable depending on the standard and so on. This has economic consequences because the marketer loses everything that’s paid for but not seen by a human whereas publishers lose what is blocked and lost to fraud.
  32. 32. Proctor & Gamble announced they pulled back $100 million and reported that it had no effect on growth. This is extremely troubling when you have the largest advertiser in the world say a significant drop in advertising spend didn’t matter and should serve as a call-to-action to accelerate the clean up.
  33. 33. This behooves people to limit vulnerability to some these exogenous forces, whether it’s the supply chain and fraud or changes happening in the browser environment that are limiting your ability to track data or privacy regulations.
  34. 34. It’s the last issue, Europe’s General Data Protection Regulation (GDPR), that was in fact a deal rationale behind the latest significant acquisition in the sector when SAP bought Gigya for $350 million. They were looking to “GDPR-proof” their business with Gigya, which focuses on identity.
  35. 35. It feels like we’re in a scenario where MarTech is needed to heal Ad Tech. The problems of Ad Tech, whether it’s fraud, viewability or the verification, are being solved by companies in MarTech with identity capabilities.
  36. 36. We believe that identity is the core of marketing. This used to be a stack where you would start your planning, execute campaigns, measure them and then plan again the next year. Today, it’s a real-time circle where identity is at the core and works to join the capabilities and data from Ad Tech and MarTech solutions in real time.
  37. 37. We like to remind ourselves that marketers are not looking for technology for technology’s sake. They are instead focused on one overarching goal: to drive more revenues at the lowest cost.
  38. 38. From the large marketing clouds to the start-ups, technology vendors aim to assist enterprises to drive more revenues by optimizing the customer experience through delivering the right message at the right time to the right person.
  39. 39. In Ad Tech, obviously the right message is not getting through if it is not viewable, or is “viewed” by a bot. We are seeing MarTech solutions from companies such as Moat, IAS, WhiteOps and DoubleVerify provide solutions to address these issues. In MarTech, we feel there are three high-level capabilities necessary: data, identity and orchestration. Data and orchestration enable the right message at the right time, and identity solutions enable the message to be delivered to the right person across devices.
  40. 40. Since there are different dynamics and vendors in B2B vs. B2C Marketing, we are going to address them separately.
  41. 41. In past presentations we have discussed the critical three capabilities: data, identity and orchestration, which marketers must assemble to coordinate their marketing activities, and integrate them with their execution channels.
  42. 42. The foundation should be a common data layer.
  43. 43. However, MarTech has long been a “best of breed” environment. Therefore, marketers utilize many channel-centric systems – each with their own data store. The issue with this is that there is no single view of the customer, since data assets are distributed and not coordinated.
  44. 44. This is a major issue for marketers. In this eMarketer survey, there is broad agreement that a single view of the customer is important.
  45. 45. However, only 5% of respondents claim to have a single platform that manages data across multiple channels.
  46. 46. So that raises a question: If marketers need a single view of their customers, what makes up the customer record? It is information, such as name, address and purchase history. It should also include additional information (consistent over time) such as sizes, segments, brand affinities and income. In order to provide relevant communications at each point in time, the customer record should also include more dynamic data, such as interactions with emails, ads, social mentions and current (or recent) website browsing.
  47. 47. If there is one system that provides the single view of the customer / manages the customer record, who owns this?
  48. 48. In B2B marketing, it is clear. The customer record is managed by customer relationship management (CRM) systems, such as Salesforce, Microsoft Dynamics, Netsuite, etc. But there has not traditionally been a single system for this in B2C marketing.
  49. 49. But we feel that the logical B2C system for managing the customer record is emerging, which is the “customer data platform” (CDP) category. These systems pull data from all the data silos, normalize it, and then apply intelligence to the data (typically using machine learning / AI technologies) to determine the appropriate next action across channels.
  50. 50. The “CDP” category has emerged in the past year to being a recognized category. We therefore have revised the Marketing Technology LUMAscape to reflect this.
  51. 51. In general, the CDP has three main functions. First, it collects, normalizes and unifies data from a variety of systems such as email platforms, websites, mobile apps, call center logs, eCommerce systems, etc. Second, it applies intelligence to this data to segment the users and determine the next best action, such as a product recommendation or offer. Finally, it syndicates the next action back to the execution platforms to enable the interaction with the consumer across touchpoints.
  52. 52. Therefore, a full-featured CDP will enable both the “data” layer and “orchestration” capabilities that we feel are critical for marketing.
  53. 53. We view the CDP category as having two main segments: commerce-focused and the other applied across verticals. Those on the right include companies that were founded as a CDP (such as Lytics), while others are focused on data collection/movement, such as former tag management players (Tealium) as well as mParticle and Segment. Although not a perfect segmentation, most of the companies on the left are DR focused, while those on the right are more brand-oriented.
  54. 54. A final comment on the “orchestration” layer. The large marketing clouds currently do not have a system that can be classified as a CDP. However, IBM, Salesforce and Adobe are all touting their A.I. capabilities with Watson, Einstein and Sensei. While nascent, these technologies will likely serve as the orchestration capability in the future for these vendors.
  55. 55. However, it is interesting to note that one of main marketing clouds – Oracle – recently panned their competitors, saying that when they claim they are in A.I. “most of the time it’s just nonsense.”
  56. 56. Moving to commentary on B2B marketing…
  57. 57. At the last Digital Marketing Summit, we summarized the state of B2B marketing with this slide, where we saw there being three main key trends: 1) the adoption of account based marketing to enable the right message at the right time to the right accounts, 2) the use of predictive analytics to help sales teams identify and engage with the accounts with the highest likelihood to purchase, and 3) the convergence of marketing technologies and sales technologies. We still view these as the key trends in 2017.
  58. 58. The one area that really unifies these trends is the adoption of account-based marketing. The vendors in B2B marketing have all embraced the term and methodologies, and are actively touting their capabilities.
  59. 59. We are often asked whether we feel feel the Marketing Clouds will “win,” or if the market will stay focused on “best-of-breed.”
  60. 60. To start with the marketing clouds, they obviously were created by stitching together multiple acquisitions.
  61. 61. There are many detractors of these efforts, with questions of whether marketing clouds should exist, or if they are serving their customers well with logical, integrated suites.
  62. 62. “Nonintegrated tech platforms” is the leading obstacle to integrating marketing activities, per eMarketer.
  63. 63. And it is not surprising that marketers still largely operate siloed, non-integrated, best- of-breed systems. Neeraj Agrawal from Battery Ventures (one of the most successful MarTech investors) believes that this is due to the inherent nature of marketers being focused on “incremental lift” from each system. Due to this mentality (driven from their marketing KPIs), he feels marketing tech uniquely will always favor best-of-breed.
  64. 64. However, there is a case for the marketing clouds. When I worked at enterprise software companies, we consistently heard from large enterprises that they prefer “one throat to choke” with vendors that can offer pre-integrated systems. And the marketing clouds are showing success, with Adobe on track to achieve $2B in revenues, and Salesforce $1.2B in revenues, from their marketing clouds in 2017.
  65. 65. Earlier this year, Cisco published its “Digital Engagement” stack that shows all the vendors they use for their marketing and sales activities.
  66. 66. If you break down their stack, they have essentially used: 1) their own technologies, 2) Adobe for their “experience” applications, and 3) best-of-breed for everything else.
  67. 67. So which wins? In the ultimate cop-out, we believe both. As long as the marketing clouds are able to combine complementary assets with integrations that benefit their customers (as Adobe has done in the Cisco example), then vendors will likely opt for these suites. However, best-of-breed vendors will always thrive in emerging areas that enterprise software vendors have not yet addressed, or if the marketing clouds do not provide valuable integrations and their products atrophy over time (and don’t maintain their best-of-breed status as stand-alone products).
  68. 68. The mission of the LUMA Corporate Partners program is to provide education, insights and market development to all constituents of the digital ecosystem. LUMA’s Corporate Partners are comprised of leading media, marketing and technology companies for whom LUMA’s leadership team provides strategic advice on the latest industry trends and a fresh perspective to aid in making critical growth decisions. LUMA’s proprietary insights, research, content and events initiatives afford personalized guidance and education at leadership off-sites, teach-ins and customer events. If LUMA can help your organization sort through this complicated and dynamic sector, contact Gayle Meyers, CMO at Gayle@lumapartners.com.

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